Find the after$-$tax RATE of return to a corporation that buys a share of preferred stock at $$35,$ sells it at year$-$end at $$35,$ and receives a $$4$ year$-$end dividend. The firm is in the $30\%$ tax bracket. $($Round your answer to $2$ decimal places.$)$

After$-$tax rate of return$=$

it is not $8\%$